The planning and investment department of Binh Dinh Province has issued an investment certificate to Seldat Viet Nam Company Limited to build a garment factory in An Nhon town.

The US$1.2 million project will be funded by an investor from Canada. The factory, to be built in Nhon Khanh Commune’s An Hoa Hamlet, will have five garment lines and a design capacity of two million products a year, most of which will be exported to the US.

The plant will be constructed on a 2,440sq.m site and is expected to become operational in the second quarter of this year.

This is the first licence that has been given to a foreign direct investment (FDI) project in the central province this year. Currently, there are 69 FDI projects in Binh Dinh with a total registration capital of $783million. Investors are from countries such as the US, China, Japan, France, South Korea, Singapore, Malaysia and Thailand.

Last year, the province implemented reforms and simplified administrative procedures to create an attractive investment environment. Binh Dinh will continue its work on conducting dialogues with firms in the province to understand their problems and propose solutions so as to improve its business environment and boost its socio-economic development.

Dau tu (Vietnam Investment Review) quoted Nguyen Bay, director of the provincial investment promotion centre, as saying that the province’s goal is to continue building the Nhon Hoi Economic Zone as well as other industrial parks and become a hub for industry and tourism. — VNS